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Rookie Reply: The Seller Hasn't Responded...What Do I Do?
Description
You recently submitted an offer on a house, but you haven’t heard back from the seller. Now what? As an eager rookie investor, the waiting game can be painful. You may already have an eye on other properties but need the capital to invest. Should you withdraw your original offer? Fortunately, Ashley and Tony have a few helpful tips to make your decision a little easier.
Welcome back to another Rookie Reply! In this episode, our hosts tackle several important topics—including when to pull an offer on a house and whether you should create an LLC when buying your first property. They also discuss the biggest differences between single-family and multifamily real estate and which type of property is best for rookie investors to target. Finally, they talk about how to become a private money lender and the two important documents that should be in place before you lend a penny!
If you want Ashley and Tony to answer a real estate question, you can submit a question here, post in the Real Estate Rookie Facebook Group, or call us at the Rookie Request Line (1-888-5-ROOKIE).
In This Episode We Cover:
Rescinding an offer on a house when you don’t hear from the seller
Whether to buy a single-family or multifamily property for your first deal
LLCs and whether you need one when buying your first property
How to become a private money lender (and what you need to protect yourself!)
The two documents that MUST be in place before lending money
And So Much More!
Links from the Show
Ashley's BiggerPockets Profile
Real Estate Rookie Facebook Group
Submit Your Real Estate Rookie Question!
Hear Our Full Episode on Real Estate Partnerships
Grab Your Copy of “Real Estate Partnerships” Today
How to Protect Your Rental from Fires, Floods, Lawsuits, and Liability
Follow Mindy Templeton on Instagram
Check the full show notes here: https://www.biggerpockets.com/blog/rookie-312
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